Kuala Lumpur: Korean Air, the world's largest air cargo carrier, said Sunday that cargo demand had bottomed out but a recovery was not on the cards till US demand for Asian goods did not pick up.

Korean Air CEO Cho Yang Ho was speaking on the sidelines of the IATA annual general meeting in Kuala Lumpur.

As a positive for Airbus he also said that the airline would not defer or cancel deliveries from the European manufacturer as long as it stuck to its production schedule. Korean Air has 10 Airbus A380s on order.

It also has $7.8 billion worth of orders with Boeing as of March.